Dubber Corp is preparing to launch its much-anticipated cash...

Dubber Corp is preparing to launch its much-anticipated cash call.

Street Talk understands the company’s stockbrokers, Morgans and Unified Capital Partners, have started booking meetings with fund managers, kicking off on Monday.On the agenda is a $24 million emergency equity-raising for the ailing cloud-based call recording software group.

Sources said Morgans will be sole underwriter on the deal. UCP, run by former Shaw and Partners stockbrokers Tony Davis and Mark Gray, will take the role of joint lead manager alongside Morgans.Street Talk first reported rumblings on a raise last month. Expectations were that Dubber – which voluntarily suspended trading of its shares when it identified an accounting anomaly – would need to raise at a “significant” discount for any deal to get over the line.Dubber shares haven’t traded for more than a month.

On March 15, Alex Waislitz’s Thorney Technologies, which now owns 19.9 per cent of Dubber, agreed to provide a $5 million secured loan as bridge financing.The company’s chief executive Steve McGovern and Melbourne lawyer Mark Madafferi have been banned from leaving Australia as ASIC investigates how $30 million went missing from a term deposit account, held on behalf of the company by a third-party trustee. About $3.4 million has since been recovered, but investors are yet to learn the fate of the rest.

Dubber is capitalised at $92 million on the ASX. In its quarterly report to December end, it guided to $45 million revenue and $65 million costs (excluding share-based payments, goodwill impairment and FX movements) for the 2024 financial year. However, fund managers have been waiting for audited accounts before they can consider chipping into a raise.It raised $110 million at $2.95 a share via Barrenjoey and UCP in July 2021, followed by $10 million in July via the latter at just 14¢ a share